US GDP growth revised upwards for third quarter
GDP rose at an annualised rate of 2.1%, up from an earlier estimate of 1.5%
The US economy expanded at a faster pace in the third quarter than previously reported, reflecting a smaller hit from efforts to rein in bloated inventories.
Gross domestic product, the value of all goods and services produced, rose at a 2.1 per cent annualised rate, up from an initial estimate of 1.5 per cent, Commerce Department figures showed. The report also showed corporate profits slumped while worker incomes jumped.
The consumer continues to ...
